Annexure 3 - Revenue Sharing
Net earnings from the commercialisation of IP owned by IITB would be shared as follows:

1. The inventor (s) / creator(s) share would be declared annually (or as revenues are received) and disbursement will be made to the inventor (s) / creator(s), their legal heir, whether or not the inventor (s) / creators are associated with IITB at the time of disbursement.
2. The revenue sharing ratio between the inventor team and IITB will be a fixed 70:30 in favour of the inventor team. IP protection costs will be part of the license revenue sharing agreement between IITB and inventor(s).
3. Where applicable and when IITB reassigns the rights of the IP to its creator(s) for any country, the cost and revenue sharing will be governed by a separate agreement between IITB and the inventor / creator(s).
4. The inventors may at any time by mutual consent revise the distribution of IP earnings agreement.